Big Blew It! IBM Crashes Most Since '60s Amid CapEx Woes; Goldman Warns Over 'Software Bear Case'

IBM's stock plummeted to its steepest decline since the 1960s after a surprise second-quarter warning, shocking Wall Street and reigniting fears about the tech giant's future. CEO Arvind Krishna cited shifting customer capital expenditure (CapEx) priorities, particularly in the software sector, as the primary reason for the warning. This has prompted Goldman Sachs to issue a "Software Bear Case" warning, suggesting a broader downturn in enterprise software spending, potentially driven by a shift towards AI infrastructure. The situation underscores the volatile nature of tech investments and the critical impact of changing customer priorities.